These Are The Differences Between MasterCard, Verve And Visa Debit Cards.

 

These Are The Differences Between MasterCard, Verve And Visa Debit Cards.

🔎🔓🔒🔘🔏🔖🔐🔐

Article Written By Unknown Person 

Do you remember that card form you fill when you went to open an account with your bank,that form has a section where you would select the kind of debit card you want; MasterCard, Visa or Verve.

But because we don't know the benefits and disadvantages attached to these cards,we tend to pick any card that comes to our mind.

Though all cards serve the basic purpose which is to pay for purchases and other transactions but they are vital things you should know about these cards.

Verve

The verve card is a Nigerian debit card,it is specifically made for the citizens of Nigeria and for that reason only those who reside in Nigeria can make use of the card.

The verve is the cheapest debit card in Nigeria, most banks issue it to customers for as low as #700.Verve can also be used in the POS and ATM,it performs all minor transactions within the country.

The major advantage of this card is that it protects you from being defrauded,in the sense that you can't easily get duped because this card can't perform foreign transactions and another benefit is that customers who use this card are usually giving discounts for the transactions they make.

Visa

This card is more beneficial than Verve card because it can serve both locally and internationally.

Users of this card can perform transactions anywhere in the world even on US websites like Amazon, AliExpress etc.

The Visa card can also be used for inter switch like Quick teller,Jumia and Konga and it can also be used in POS all over the world.

The Visa card has spending limit for each day but users of this card can upgrade it as time goes on.

MasterCard

Just like the Visa, MasterCard is a multi purpose debit card that is accepted globally.

The advantages of having this card is that you can travel anywhere with it and if your bank allows it,you can make transactions outside the country,what this means is that you don't need to worry about how to exchange any foreign currency before making any transactions outside the country.

But the disadvantage here is that you might be debited high if the exchange rate is high,what this means is that as dollar rises,the exchange rate with Naira rises also and once you make transactions,you would be debited with the exchange rate as at the time you make that transaction.

MasterCard just like every other debit cards,can be used in POS, ATM and any other web channels you can think of.

It is the debit card with highest security,users of this card are very safe because MasterCard provides extra-protection for web based transaction,it has a secure code for any international web transaction and it also has a safe token for local web transaction within the country.

MasterCard also has spending limit which is most times also serves as a form of protection against fraudster.However users of this card can adjust this limits if they chose to.

Visa and MasterCard come with various benefits such as hotel room upgrades,food and beverage vouchers as well as securing a concert and theatre ticket before it goes for sale to the general public.

Though this benefits also differs from each bank,the benefits from Zenith bank would be different from that of First bank.

The Visa and MasterCard also comes with various categories ranging from classic,gold, Platinum and infinite.These categories differs with your bank,your bank would issue you the card according to your account balance and lifestyle, usually customers who engaged in heavy transactions do fall in the Platinum or infinite category.

Note:

All cards come with a small electronic chip which should be handled with care,and it's always advised not to put your cards in your back pocket because sitting on it all the time can reduce the lifespan.

There is a 16 digits on every debit card,the first digit of the MasterCard starts with '5',that of Visa starts with '4' and the 16 digits of Verve start with '5'.

These cards all have their validity date usually 2 to 3 years and it has a 3 digit CVV(card verification value) code at the back which is very vital and it should be kept secret.

All these cards have their daily and monthly spending limit which a bank would always tell you when you are opening an account with them.

There you go,hope you have enough information that can help you make a better decision when selecting the kind of card of your want in the form that you would ask to fill.

Your choice should always be on your preference, lifestyle and the benefits that you would want to enjoy.